Premium Collection & Allocation Officer at Prudential Plc

About the job

• Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Key Responsibilities:

• Receives and reviews premium inflow data from approved channels (bank transfers, PayPoint, direct debit, e‑mandate)
• Verifies completeness of payment details (amount, date, narration, policy reference)
• Updates premium inflow records in the policy administration system
• Allocates confirmed premiums to the correct policy in the system
• Uses approved matching tools and allocation rules
• Identifies premiums that cannot be allocated due to missing or invalid policy details
• Prepares refund or reversal requests with required documentation
• Validates refund eligibility against SOPs
• Submits requests for approval
• Provides transaction information to the Customer Service Unit (CSU)
• Clarifies premium status and allocation history when queried
• Supports CSU with technical verification
• Prepares daily / weekly premium movement summaries
• Inputs data for suspense aging analysis reports
• Validates report figures before escalation
• Perform other duties as assigned by the Team Lead

Key Requirements:
Qualifications:

• A Bachelors' degree in any Management Science Course

Professional Membership:

• Accounting certification or any other professional qualification will be an added advantage

Experience:

• Minimum of 2 years’ experience in financial services institution with experience in Claims and Underwriting.
• Experience in accounting and reconciliation will be an added advantage

Knowledge:

• Knowledge and understanding of claims and underwriting
• Excellent customer service capabilities
• Good Oral & Written communication
• Good documentation skills

Competencies:

• Initiative
• Documentation skills
• Taking ownership
• Problem solving
• Interpersonal Skill
• Team player
• Active Learning
• Innovative/ Creativity